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05.08.202609:11 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on August 5

Relevance up to 03:00 2026-08-06 UTC--4

Bitcoin and Ethereum continued to rise yesterday in hopes of reaching new monthly highs. Still, despite the sharp upward surge in the US stock market, there is currently no correlation with the cryptocurrency market.

Exchange Rates 05.08.2026 analysis

Meanwhile, a group of six researchers from Ethereum, including the president of Ethereum France, Jerome de Tychey, published a draft proposal EIP-8363 titled "Gradual Burning of Emission" on August 4. The document addresses a problem that previous protocol reforms failed to eliminate; the current emission curve continues to pay about 1.5% yield to validators even with nearly the entire supply staked. The emission mechanism is designed so that part of the rewards for validators for confirmations, block offerings, and participation in synchronization committees will be burned, with the percentage of burning increasing as the share of staked coins rises.

The current dynamics of the network explain the urgency of this proposal. The share of staked Ether has just reached a record 33.33%, with increasing concentration among holders such as Bitmine. According to the authors' calculations, if the current trend continues, by January 2028 the volume of staking could exceed 70 million coins in the worst-case scenario, accounting for more than 55% of the total supply.

The criticism of this proposal has been quite sharp. Many have opposed the limitation, warning that unpredictable staking yield could deter institutional investors and make Ethereum a less viable asset. Some solo staking experts warn that burning rewards risks pushing out smaller solo validators before it affects larger institutional structures, thereby weakening the decentralization the proposal is formally intended to protect.

As for short-term trading, the strategy and conditions are described below.

Bitcoin

Exchange Rates 05.08.2026 analysis

Buy Scenario

Scenario #1: I will buy Bitcoin today at an entry point around $64,400, with a target of $64,800. At around $64,800, I plan to exit the buy positions and sell immediately on the bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: I can buy Bitcoin at the lower boundary of $64,200 if there is no market reaction to its breakout back toward $64,400 and $64,800.

Sell Scenario

Scenario #1: I will sell Bitcoin today at an entry point around $64,200, targeting a drop to $64,000. At around $64,000, I plan to exit the sell positions and buy immediately on the bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and the Awesome indicator is below zero.

Scenario #2: I can sell Bitcoin at the upper boundary of $64,400 if there is no market reaction to its breakout back toward $64,200 and $64,000.

Ethereum

Exchange Rates 05.08.2026 analysis

Buy Scenario

Scenario #1: I will buy Ethereum today at an entry point around $1,872, with a target of $1,885. At around $1,885, I plan to exit the buy positions and sell immediately on the bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: I can buy Ethereum at the lower boundary of $1,864 if there is no market reaction to its breakout back toward $1,872 and $1,885.

Sell Scenario

Scenario #1: I will sell Ethereum today at an entry point around $1,864, targeting a drop to $1,853. At around $1,853, I plan to exit the sell positions and buy immediately on the bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and the Awesome indicator is below zero.

Scenario #2: I can sell Ethereum at the upper boundary of $1,872 if there is no market reaction to its breakout back toward $1,864 and $1,853.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Miroslaw Bawulski,
Analytical expert of InstaSpot
© 2007-2026
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